Will KSS bail out cash-strapped Mahuaa Media?

The media company is financially ailing with loans of over Rs. 200 croreGaurav Laghate | ET Bureau | March 31, 2016, 13:59 IST

Image credit: ThinkstockKSS, earlier known as K Sera Sera, which has a presence in businesses ranging from entertainment, financial services, jewellery retail and e-commerce, is likely to bailout cash-strapped Mahuaa Media, a source with the knowledge of the development told ET.

Mahuaa Media is in financially troubled with loans of over Rs 200 crore. The landers and creditors o the company have already filed a case against Mahuaa Media, requesting winding up their business. Also, the CBI is investigating the term loan given by nationalised banks to Mahuaa for buying broadcasting equipment. “They are in dire condition. On April 1, the win ding up case is coming up for hea ring in the Delhi High court,“ said the source mentioned above.

“What KSS is proposing the bailout of Mahuaa Media and looking at getting controlling stake if all goes well,“ he further added. When contacted, Mahuaa Media spokesperson declined to comment.